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, and the legislation they came up with, jeff, contributed o the fiscal cliff that we're facing right now. >> glor: the president says this just keeps happening again and again. nancy cordes, thank you. income taxes won't be the only taxes going up if there's no agreement. estate taxes paid by those who inherit property will also jump. here's john blackstone. >> reporter: jeff page owns 120- cre vineyard in california's napa valley. but when his great-grandfather started farming here in the late 1800s, this was cattle country. >> both sides of the family came en before the turn of the century, and farmed orchard fruit and cattle. he reporter: but much of the land he grew up on is gone, sold to pay estate taxes after his grandfather's death. had land back in the hills over there? >> yeah. >> reporter: had to sell it all. >> had to sell all of it? i reporter: estate tax? >> yes. >> reporter: his grandfather died in 1972 when estate taxes were at an all-time high: 77%. >> it was a big tax bill. it was half-a-million dollars. we sold off 150 acres; gave us hemething to pay the tax with. >> reporter: n
will go taxor everyone on january 1. >> glor: nancy cordes in hawaii. nancy, thank you. the fiscal cliff could mean severe cutbacks and layoffs in cliff couelds, like many medical research. that's forcing leaders to make mugh choices right now. here's wyatt andrews. he andreporter: professor kerri mowen, like hundreds of medical kerearchers, has already fallen off the fiscal cliff. her budget-- which relies on of federal grants-- is being cut by - % now as the n.i.h.-- the national institutes of health-- prepares for the possibility of utes of hes later. >> it's much bigger than just my lab. it's affecting all academic labs across this country. >> reporter: mowen, who studies rheumatoid arthritis at the scripps research institute in california, understands the n.i.h. decision but calls it a t aback. >> my lab will have to shut down t dearch projects that we know could have profound impacts on curing human disease. we may have to get rid of some staff members. >> reporter: the n.i.h. tells us >> secause of uncertainty in the budget awards at 90% of what was promised to researchers will be
%. superstorm sandy and the looming fiscal cliff disrupted the shopping season. >>> and if you are returning my holiday gifts, have your right and a lot of patience. usa today reports 14 of 25 on-line retailers in one study are issuing refunds slower than last year. for in-store returns some retailers have shortened return windows and are charging restocking fees, especially for technology. >> thanks. >>> straight ahead on your morning wednesday news, weather is coming up, and lebron james takes it to the oklahoma city thunder in a rematch of the nba final. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ ♪ i got it made, i got it made ♪ ♪ i got it made fresh at subway ♪ ♪ breakfast made the way i say ♪ [ male announcer ] at subway, you got it made. try a steak, egg white & cheese, tricked out any way you want. subway. eat fresh. but the acidic levels in some foods can cause acid erosion.
services is. >> that fiscal cliff will hurt the city to the tune of almost $80 million right away. >> reporter: most of the cuts would be in health care, aids programs and housing. >> that's just an immediate hit. >> reporter: across the bay alameda county supervisor predicted -- >> our health clinics will get hut. our w. i. c. program which is a program for mothers they get nutrition for their newborn babies and we have several sites in alameda county that would also experience a large cut. >> reporter: education would also take a hit. >> this would undo a lot of the good a lot of californians are willing to invest in the schools. perhaps as much as 10% for the special needs students and the meals program that so many of the students in georgia are growing up -- california are growing up in poverty and they need that meal. >> reporter: it's not just the immediate cuts that worries the local officials, it's also the ongoing uncertainty that comes from the stalemate in washington. a stalemate that bay area officials fear could affect the economy just when it's starting to recover.
're apprehensive. they're not committing to projects. they're waiting to see what happens with the fiscal cliff. >> hope is fact if congress can get it done before january 1st. even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> president obama has invited nancy pelosi, john boehner, mitch mcconnell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking. >> today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chamber of commerce. >> i don't know time wise how it can happen now. >> under senate rules, the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to. they'll have 24 hours. outside the beltway, carlino will be watching. >> everyone is kind of in a wait-and-see and fingers-crossed per expect tichb right now. >> since 1930 this is only the fifth time congress has worked after chri
-called fiscal cliff. after a day of intense talks, senate majority leader, harry reid said there will not be a deal tonight. >> there is a distance between the two sides, tpheg orbingiations continue. >> if republicans and democrats can not strike a deal, taxes will go up for almost every american, automatic cuts will kick in and millions will loose unemployment benefits. >> i want everyone to know i am will willing to get this done but i need a dance partner. >> they quickly cut the deficit by slowing the growth of social security but the senate says there is a little bit of movement when they are compromising which americans should should get ready to pay a higher tax rate. >> reporter: in an unusual move republicans here on capitol hill called on the nation's number 2 democrat, vice president joe biden, to help in negotiations, this as the white house puts the blame on the impasse on the gop. >> they say the biggest priority is making sure we deal with the deficit in a serious way. the way they are behaving is the only priority is making sure tax breaks for the wealthie
. not with the pending fiscal cliff and the threat of the $7.5 billion cut in nonentitled services. >> that fiscal cliff will hurt the city to the tune of almost $100 million right away. >> reporter: most of the cuts could be in health care, welfare programs for the poor, aids programs and housing. >> that's just an immediate hit. >> reporter: across the bay, alameda county supervisor predicted -- >> this is going to shred the safety net even more. the health clinics that serve the uninsured and under insured will get cut. our wic programs for mothers and we have severals sites that would also have a large cut. >> reporter: education would also take a hit. >> this would undo a lot of the good particularly special needs students would have the programs cut perhaps as much as 10% and the meals programs that so many of the students in california are growing up in poverty. a quarter of the students growing up in poverty and they need that meal. >> reporter: not just the immediate cuts, it's also the ongoing uncertainty that comes from the stalemate in washington. a stalemate that bay area officials fear cou
: the deal under discussion in the senate right now doesn't even include the biggest part of the fiscal cliff, that 1.2 trillion dollars in mandatory budget cuts, spending cuts that are also due to kick in this tuesday. the thinking up here goes like this, let's handle the tax cuts now, and readvise the spending cuts later. >> thank you. in addition to the $500 billion in automatic tax hikes, as you just heard from wyatt, the fiscal cliff also includes 1.2 trillion in mandatory spending cuts. congressional democrats and republicans agreed to these drastic cuts last year, to force both parties to the table on deficit reduction. if they can agree by monday at midnight, the following cut take effects. over the next nine years, the u.s. defense budget would be reduced by $455 billion. domestic programs would be slashed by 464 billion. 1,000 government programs face potential cuts, including three that directly impact air travel. john bentley has the story. >> reporter: long waits at airport security are nothing new. but if the u.s. government goes over the fiscal cliff, they could get even longer
yesterday at the deadline but that deal to avoid the fiscal cliff on new year's if democrats and republicans can't compromise, tax hikes will kick in, the tax policy center said families making $50,000 a year will have to pay $2,400 more in taxes. >>> the excon who lured firefighters to their deaths left a note saying he wanted to burn down the neighborhood and do what i like doing best, killing people. >> we are being shot at. multiple fireman down, i'm shot. >> that was a call that a wounded firefighter made, william spangler burned his home yesterday and waited for first responders. he was armed a gun, a shot gun and a rifle. he opened fire when crews arrived. arrived. two firefighters were killed. >> just always there for you. you just take them for granted. you don't -- >> two more wounded are still in the hospital on this christmas day. spangler took his own life. his rifle is the same make and caliber weapon used by the newtown shooter. >>> families in connecticut are trying to find solace on this christmas day. the town is still reeling from the shooting that killed 26 people at
the fiscal cliff talks. >> let's hope they can figure it out in the next week. >> you can get more on melissa's segments on csf.com/morning. >>> time for a look at who's coming up a little later on this morning. >>> rebecca jar visit joins us live on christmas eve. good morning. >> good morning, frank and elizabeth. coming up ahead on our show on cbs this morning, the controversial call for armed guards at the school. we'll talk with asa hutch chin son about the gun control debate. plus john miller on the accuracy of "zero dark thirty," and christmas cheer for 2,000 people who just hit the jackpot in the world's richest lottery, $3.3 billion. >> happy holidays. >>> time is 6:52. have another check of today's top stories coming right up. >>> a live look at minor rad as he tracks santa's sleigh when he comes back. stay right there. ,, ,, ,,,, jack! what happened? me and jason came back with drinks and all 20 nuggets were gone. we got nugged. there was a nugging. this guy just came running up... dip! dip! dip! shoveling 'em into his face! give me your nuggets- -we're like "no! save some for our
i say this one last time? "fiscal cliff"? [ laughter ] >> that's it. >> never going to say it again. >> no more. >> there's it for 2012. >> are they going to get it done? >> reporter: i used to think they were but then when boehner couldn't get the votes for plan b i thought oh, my god, we're in trouble. >> do your job. >> we'll see what happens. >> melissa, thank you so much. >>> remember, you can find more of melissa's segments on cbssf.com/mornings. >>> time for a look at what's coming up later on "cbs this morning." norah o'donnell joins us now live in new york with the license on the big show. good morning. >> reporter: hey, good morning to you, frank and michelle. we're talking about secretary of state hillary clinton. she has been hospitalized after doctors found a blood clot so we're going to talk to dr. john lapook about just how serious this may be. also, we're following the last- minute negotiations to avoid the "fiscal cliff." that's required. is there going to be a deal today? we're all waiting and plus we'll take a look back at the biggest news stories:2012. we'll see
the so-called "fiscal cliff." this is a live picture of the u.s. capital right now where the house is set to reconvene less than a half hour from now. but there are questions about how much progress can be made. andrew spencer has more on why the process steams have stalled -- seeps to have stalled. >> if there is an ultimate compromise, there will be parts of it that i find disgusting and reprehensible which i may have to swallow in the name of finding compromise. >> reporter: a rare sunday session on capitol hill. >> the senate will come to order. >> reporter: as lawmakers work on a voiding the so-called "fiscal cliff." talks briefly hit a, quote, major setback on sunday over social security benefits according to a democratic source. but both sides agree to push forward. >> i want everyone to know i'm willing to get this done. but i need a dance partner. >> reporter: vice president joe biden is apparently that person for senate minority leader mitch much. top level sources say the two are taking over talks. if nothing is resolved by midnight tax rates for all americans will increase. de
it comes to the fiscal cliff. there are no major discussions going on right now about what to do now that talks between the president and the speaker appear to have stalled. in fact, the president and senate majority leader harry reid were both here in honolulu yesterday for the funeral of hawaii senator daniel inouye. we're told they didn't really discuss what to do next. before he left washington the president urged leaders to craft a sort of scaled down plan that simply extends the bush tax rates for the middle class and extends long-term unemployment benefits for another year. but, jeff and rebecca, it's really unclear whether even a package like that could pass both houses of congress. so the president is going to be cutting his vacation short and heading back to washington midweek to work with congressional leaders. at that point, as you know very little time left to get a deal only about five days. >> the pressure will be on. no do-overs for this one. nancy, i want to turn to michael crapo and his dui. what kind of details are emerging on that? >> reporter:
in washington as we near the edge of the "fiscal cliff." >> and a terrifying ordeal for shoppers in sacramento. witnesses fear the worst when a fight breaks out in a very busy mall. >> and we'll take you to one bay area "cool school" where students with special needs are learning how to rock. ,,,,,,,,,,,,,, >>> you start thinking the worst thing that could possibly happen. >> we hid behind the jewelry counter at macy's. >> some terrified shoppers flee a sacramento mall when a massive fight breaks out. >> senate lawmakers head back to washington trying to reach a deal on the "fiscal cliff." >> and you can put away the umbrellas for at least a day. we have this high pressure firmly in place over the bay area. checking the roadways so far, no major hot spots out there. here's a live look at th golden gate. we'll have much more traffic and weather coming up. >>> i'm michelle griego. >> i'm frank mallicoat. it's almost 5:00. we have some developing news in brentwood. a mysterious gas leak has prompted the evacuation of a number of homes there. pg&e crews were called out to all brook drive around 6:
negotiations as they have been during the holidays on a bill to possibly avert the fiscal cliff. those talks i'm told did not make much progress. the face-to-face conversations may fact create the possibility of a breakthrough. but right now the president has no new proposals to give his congressional leaders. he will stick with what he told the nation on friday-- raise income taxes for households earning more than $250,000, extend unemployment benefits for those americans out of work for more than six months, and try to find some other means to avert the fiscal cliff before that deadline, and tomorrow, may give us a glimmer of hope but as i said, the white house does not consider this a breakthrough, but everyone is and will be talking. >> glor: major garrett at the white house. thank you. all of this uncertainty is already affecting the economy. today, a closely watched business group reported consumer confidence has declined for a second straight month, a sign americans may continue to hold back on spending. consumers won't like what they see at the supermarket if congress doesn't pass a ne
christmas many americans have lingering financial worries. we know there's that fiscal cliff hovering over us and we're about to go over the edge but right now no one in washington is really doing anything about it. >> no, on the christmas break. edward lawrence is in washington, d.c. this morning with more on what lies ahead in the days to come. so edward i guess we won't really see any action until at least thursday? is that right? >> reporter: yeah we won't see action until thursday because the senate doesn't get back into session until thursday at the moment the capitol is deserved. so is the white house, as you know president obama is in hawaii on his annual vacation. that he has every year here. now he spent christmas eve playing golf and working out at a local marine base out there. he also has another golf round planned again for today. the talks between the president and the house have broken down on this fiscal cliff there are to try and avoid the deadline that's coming up. on thursday when the senate comes back into session most of the house of representatives will also be back
on the fiscal cliff, but there is no guarantee of success because the parties are still far apart. rebecca and jeff in. >> all right, chip thank you very much. >>> the world's largest coffee chain is sending a message to congress about the fiscal cliff. for the rest of the week, employees in the washington, d.c., area will all write "come together" on starbucks cups instead of consumers' names. in an online letter starbucks ceo howard schultz says the company has responsibility to send a respectful and optimistic message. >>> hawaii lieutenant governor brian schatz was chosen yesterday to succeed senator daniel inouye who died last week. schatz is now flying to washington on air force one with president obama. he could be sworn in as early as today. >>> we may swear to our doctors that we're getting checked for cancer, but a new study finds we're actually dropping the ball. the university of miami study found the general public did not meet any government recommendations for cancer screenings except for colorectal cancer. cancer survivors had higher screening rates
tuesday. >> the fiscal cliff count down is the big topic on this morning's fogs the morning -- face the nation. there's two big visitors. it starts right after this newscast at 8:30 on cbs 5. >>> plastic shopping bags may soon be the fast. >> the final 2 days for those bags in an entire bay area county. >> a 2012 close, a look back at some of the big stories in the usa. we'll be right back. ,,,,,,,,,,,,,, as the new year begins tues the new ban appl >>> 20 minutes before 8:00. one of the biggest counties is jumping on the plastic bag ban. the new ban applies to all of alameda county. the incorporated areas and all of its cities also. stores will no longer be able to give customers one time use plastic bags. customers must bring their own bags or pay 10 cents each for a recyclable paper bag. similar laws are in effect in san jose, san francisco and dozens of other california cities and counties. san jose says since it's ban took effect the number of plastic bags littering city streets has gone down 59%. >>> the rain is gone. we're trying to get used to seeing the sunshine. ryan has m
tomorrow. >> all right, jeff, thanks so much. >>> you know about the fiscal cliff. here comes the container cliff. dockworkers threaten to go on strike this sunday at more than a dozen major seaports from texas to massachusetts, and that could cost american companies about $1 billion a day. ana anna werner good morning. >> reporter: good morning. there are only two days left after a potential strike and negotiations between the longshoremen longshoremen's union and shipping companies are at an impasse. at issue here is pay for those working at the ports, but if the issue isn't resolved the consequences could be a devastating impact on the economy. as the rest of the country focuses on the political gridlock in washington workers at the port of houston are working overtime trying to get as many shipments in and out as they can before a threatened strike brings the port to a standstill. >> sitting here right now we fully expect there will be some shutdown or strike at the end of the day. >> reporter: jon gold vice president of the national retail federati
the white house after trying to negotiate an 11th hour deal to avoid the "fiscal cliff" of tax hikes and spending cuts that begin on january 1. the president emerged shortly after admitting no deal had been reached at least not yet. >> we had a constructive meeting today. senators reid and mcconnell are discussing a potential agreement where we can get a bipartisan bill out of the senate over to the house and done in a timely fashion. >> reporter: the senate is in session today and is expected to return on sunday along with the house. >> we are engaged in discussions, the majority leader and myself and the white house, in the hopes that we can come forward as early as sunday and have a recommendation. >> reporter: but time is clearly running out for congress. st. mary's college political professor steven wol fert says the senate needs to introduce something today or they will likely not make the deadline. >> the deadline is so short and the amount of time necessary to go through the procedural steps to approve legislation are so numerous that they are right up against the very limit
reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in a wait-and-see and fingers crossed perspective right now. >> reporter: since 1930, this is only the fifth time congress has worked after christmas. tara mergener for cbs news, washington. >>> it is nearly 4:40 now. secretary of state hillary clinton plans to return to work next week after a three-week absence from the hill. she has been recovering from that conc
friday special. >> it's my thing. >>> coming up whatever is done or not done about the fiscal cliff, you need to get your financial house in order right now, so we're getting you all set for the new year. >>> and then later it's one of the most famous photographs of the 20th century. ever wonder who they are? you'll meet them. you're watching "cbs this morning saturday". . >>> coming up we'll take a look at a documentary film about a man who woke up not knowing who he is and he still doesn't. >> can you imagine? some are skeptical of the no identity claim. but the film maker says no one has come forward to prove it wrong. and benjamin kyle has no idea who he is. he refuses to take money for his story. we'll be speaking with him when we come back. this is "cbs this morning saturday." ♪ ♪ [ female announcer ] no more paper coupons. no more paper lists. [ dog barking ] ♪ ♪ no more paper anything. safeway presents just for u. ♪ ♪ save more. save easier. saving more, starts now. just for u on the safeway app. >>> welcome back to "cbs this morning s
people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in a wait-and-see and fingers crossed perspective right now. >> reporter: since 1930, this is only the fifth time congress has worked after christmas. tara mergener for cbs news, washington. >>> today's meeting will be th
:06. president obama flew back to washington from hawaii overnight to work on the plan to avoid the "fiscal cliff." cbs reporter tara mergener says congress remains gridlocked and fewer americans expect any progress before the new year. >>> reporter: senators and staffers will be filling these empty hallways today trying to work out a deal to avoid the "fiscal cliff." higher taxes will give the average american about $1,500 less to spend next year. and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short term spending cuts until a bigger dooley can be reached. >> it is going to be a patch because in four days we can't solve everything. >> reporter: while senators try to brave the bad weather that has hit many parts of the country, in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. >> good morning? >> reporter: house republicans scuttled the proposal from speaker john boehner last week
Search Results 0 to 23 of about 24